Infrastructure Ontario (IO) continues to support its municipalities and other eligible public sector partners in their work to improve the quality of life in their communities by providing affordable, long-term financing for infrastructure development and renewal.
IO has entered into new commitments to provide financing through its Loan Program to four eligible organizations.
The eligible organizations are:
- Township of Admaston Bromley for landfill expansion, snow plow, snow blower, equipment shed, and road work projects - $250,000 loan
- County of Elgin for road reconstruction project - $6,000,000 loan
- City of Quinte West for new police station - $11,000,000 loan
- Township of Tarbutt and Tarbutt Additional, for purchase of sanding/plow unit - $254,250 loan
The Loan Program is one of Ontario’s alternative financing approaches to help municipalities, housing providers and other public-sector partners renew Ontario's public infrastructure. IO loans provide affordable, long-term financing in support of infrastructure development.
With more than 440 public-sector clients, the Loan Program has helped finance various types of infrastructure projects such as the construction of roads, bridges, arena complexes, and long-term care homes, and the acquisition and installation of capital assets like fire trucks and energy-efficient lighting.
Modern and efficient public infrastructure is key to building a strong economy, prosperous communities and a clean healthy environment.